We have published several articles about MTN Mobile Money, MTN Qwikloan and how to apply as well.
A lot of MTN Mobile Money subscribers do apply for the instant mobile money service and do not know how to pay on time. This tends to be issue since they can forget and MTN Ghana will incur an additional 12% on failure to repay the loan on time.
You can read more about instant mobile money loans in Ghana here: Instant Mobile Money loans in Ghana.
When a loan is given, you have up to 30 days to repay so as MTN Ghana can increase your loan credit score for another loan from their Mobile Money service.
In this article, we shall discuss about how to repay your MTN Qwikloan using your MTN Mobile Money account and get qualified for another loan on higher chances.
How To Repay Your MTN QwikLoan Using MTN Mobile Money
If you missed our previous article on how to apply for MTN Qwikloan offer, then you can read more here: How To Apply For MTN QwikLoan In Ghana
- On your MTN Mobile Money, deposit an amount you are to repay into your wallet.
- Make sure you do this before the due date and then money will be deducted automatically if the time reaches.
You might forget and withdraw that money — and in such, you can repay your loan manually from your MTN Mobile Money wallet.
How To Repay Your MTN Qwikloan Manually
- Dial *170# on your mobile phone
- Choose option 5 — for Financial Services
- Select option 3 — for Loans
- Choose option 1 — for QWIKLOAN
- Select option 2 — for Repay my loan
- Enter your MoMo PIN to confirm
- Choose to your own amount or repay full loan balance of GHS xxx
- Select 1 to confirm
Now, you are done on how to repay your MTN Qwikloan — and you are qualified to apply for another loan higher than the previously given loan.
That’s why you should always repay your MTN Qwikloan on time to avoid paying penalty as late fee.
One of the requirements for applying for MTN Qwikloan is having a registered MTN SIM Card and you can read more about How To Register Your MTN SIM Card Yourself In Ghana
In summary, MTN QwikLoan allows you to apply for a loan and get up to GHS 1,000 instantly. MTN Ghana allows subscribers to apply and take loans to cash out from MTN Mobile Money merchants or banks.